The SuperLoan app is a mobile lending software available in Nigeria that provides easy access to unsecured personal loans with credit limits up to $100,000. A loan that doesn’t require collateral or a down payment is known as an unsecured loan. It typically has very high interest rates and is short-term.
By leveraging the information on your phone, including your information to authenticate your identity and build a credit score, SuperLoan makes applying for a personal loan straightforward.
Please refrain from using a SuperLoan to support your way of life or pay off long-term debt. Although they can be more expensive than long-term loans, short-term loans are useful in emergencies and should only be used sparingly.
The app has received generally positive reviews and over 10,000 downloads in its first two months on Google Play. To establish each borrower’s credit score, a loan software is used to gather data about potential consumers, including phone records, banking transaction alerts, and BVN.
Make sure to keep recent bank transaction messages on your phone and avoid having any unpaid balances with other lending applications to qualify for bigger amounts.
Simply download the app from the Google Play store, enter some personal information about yourself, and the algorithm will evaluate your data, determine your credit score, and present you with loan options. Within a short time
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How to Download APK and get a loan from SuperLoan app
- Download the SuperLoan personal Loan App exclusively available on the Google Playstore and install on your Android phone.
- Register an account with your phone number.
- Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
- Fill in your basic Know-your-customer KYC information, including your residential address, next of kin and employment details
- You will also be required to provide your Biometric verification number BVN.
- You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
- A one-time password OTP will be sent to your phone to confirm your details.
- After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
- The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
- Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.
The SuperLoan app is a mobile lending software available in Nigeria that provides easy access to unsecured personal loans with credit limits up to $100,000. A loan that doesn’t require collateral or a down payment is known as an unsecured loan. It typically has very high interest rates and is short-term.
By leveraging the information on your phone, including your information to authenticate your identity and build a credit score, SuperLoan makes applying for a personal loan straightforward.
Please refrain from using a SuperLoan to support your way of life or pay off long-term debt. Although they can be more expensive than long-term loans, short-term loans are useful in emergencies and should only be used sparingly.
The app has received generally positive reviews and over 10,000 downloads in its first two months on Google Play. To establish each borrower’s credit score, a loan software is used to gather data about potential consumers, including phone records, banking transaction alerts, and BVN.
Make sure to keep recent bank transaction messages on your phone and avoid having any unpaid balances with other lending applications to qualify for bigger amounts.
Simply download the app from the Google Play store, enter some personal information about yourself, and the algorithm will evaluate your data, determine your credit score, and present you with loan options. Within a short time
Is SuperLoan app legit or scam?
Yes, the SuperLoan loan app is a legitimate lending app that offers users microloans up to a limit of N100,000. However, it has extremely high interest rates and flaws that make registration difficult. Any online loan should be approached with caution. Before you apply for a loan in Nigeria, always read feedback from previous clients.
You should be aware that neither the CBN nor any other Nigerian government organisation has registered or regulated these loan apps. There is no means to get revenge for bad customer service, and you are responsible for the security of your transactions with them.
Additionally, the fact that it is available on Google Play does not make the transactions made through it secure. While utilising loan apps in Nigeria, you are in charge of your own security as the play store only acts as a download location.
Pros
- It’s legit, has been confirmed by admin that they actually do give loans.
- Completely online with no collateral required.
- High loan amount, up to 100k.
Cons
- Has serious networking issues that prevents smooth registration.
- Takes time to disburse loans after approval, some customers take days even weeks before seeing alert.
- Short loan duration especially for new users, starts at just 7 days.
- Very high interest rates on small loan amounts.
- High rejection rate.
- The app only works on Android smartphones.
What other borrowers are saying about Superloan app
The main problem that most borrowers seem to have is the high interest rate and sluggish distribution.
“Fast and simple application,” wrote Oluwadamilola Yusuf. If my loan is accepted and disbursed, I will return and rate the last star.
“Just applied,” WaaleFrank commented on Friday. “If I get my loan, I’ll come back and give you 5 stars. In the meantime, registration was simple.
Easy registration, but the interest is too much, Goodlife Afeke wrote. Nevertheless, is a good app. I rate it 5 stars. See more testimonials from borrowers here.
Be mindful of the payback schedule while taking out a loan. If you take up a 60-day loan with two payments of repayment, the app may try to auto-debit you on the first installment’s due date and even levy late fees before the 60-day term is through.
To stop auto debit, you can alter the password on your ATM card. There have been allegations that this app willfully debits users’ bank accounts even after they have made bank transfer payments.
Since there are no rules in Nigeria, the majority of these applications are used by loan sharks who may threaten to label you a scammer to your family members if you don’t pay your debt. If you have other options, it is preferable to stay away from these programmes.
Visit this Facebook page where you may receive support and hear about the experiences of others who have experienced bullying from lending apps if you’re being threatened or harassed by any loan sharks in Nigeria.
Interest rate?
SuperLoan offers:
1 Loan amount from ₦10,000 to ₦100,000.
2 Repayment from 91days to 365days.
3 Easy to get safe loan.
-Interest rate: as low as12% APR
Example:
If the loan amount is NGN5,000, the loan term is 180days, and the interest rate is 12%, the total interest should be NGN5,00012%= NGN600. The total repayment amount would be NGN5,000+ NGN5,00012%= NGN5,600.
This interest rate and tenure is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.
What are the requirements?
- Be a legal citizen or legal Resident of Nigeria
- Be at least 18 years old.
- Have a Monthly income source.
- Bind your ATM card to your account
- Provide details of two of your next of kins including their phone numbers.
- Have a good credit score with no outstanding loans from other lenders.
- Have an active bank account.
- Your phone number must be the one connected to your BVN.
- Have a valid government issued ID card.
What will happen if I don’t repay my loan or pay my loan late?
A fee of 2% per day is automatically assessed for late loan instalments. It is consequently recommended that one adhere to the due date. If you pay back the loan on the due date, you might get bigger loans. If you make late payments, it will be harder for you to receive new or bigger loans. Your payment history will be submitted to the First Central Credit Bureau if you are frequently late. Your ability to obtain credit from other lenders may be impacted if you are blacklisted by the First Central Credit Bureau.
SuperLoan app customer service number
Phone: 017001000 or 018888188
• Service Email: superxefintech@gmail.com
• Our Office Address: G.R.A, 21 1st Ugbor Road, Oka 300102, Benin City, NIGERIA